Consumers and the economy, part I: Household credit and personal saving

Reuven Glick and Kevin Lansing

FRBSF Economic Letter, 2011, issue jan10

Abstract: In the years since the bursting of the housing bubble, the personal saving rate has trended up from around 1% to around 6%, while the ratio of household debt to disposable income has dropped from 130% to 118%. Changes over time in the availability of credit to households can explain 90% of the variance of the saving rate since the mid-1960s, including the recent uptrend, according to a simple empirical model.

Keywords: Consumer behavior; Saving and investment; Households (search for similar items in EconPapers)
Date: 2011
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